This is big private equity news UK as the recovery of Pizza Express and Wagamama is good news for the casual dining sector, which has been struggling in recent years…and hopefuly for PE firms too.
The sector was hit hard by the pandemic, as consumers stayed at home and cooked more meals. However, it is now starting to recover, with Pizza Express and Wagamama leading the way.
The recovery of Pizza Express and Wagamama is also good news for their private equity owners.
Both chains were taken private in the 2010s, and their owners have been under pressure to improve their performance.
Private Equity News UK – Pizza Express & Wagamama
In Fact, during the 2010s the UK high street was so over populated with chain restaurants after UK Private Equity Firms pimped up brands such as Pizza Express with debt laden plans that,
As reported by City News, in 2021, the former finance chief of TGI Friday’s private equity owner Electra told The Daily Mail that private equity played a “significant part” in a “very real oversupply situation” in the sector.
The recovery of the chains will help to satisfy their owners and make them more attractive to potential buyers.There are a number of factors behind the recovery of Pizza Express and Wagamama.
First, both chains have invested in their menus and restaurants.
Pizza Express has introduced new dishes, such as its “Pasta Club” and its “Prosecco Hour.” Wagamama has also introduced new dishes, such as its “Wagamama x KFC” collaboration.
Both chains have also invested in their restaurants, making them more modern and inviting.Second, both chains have benefited from the easing of lockdown restrictions.
With people now able to eat out more freely, Pizza Express and Wagamama have seen a return to customers.
Third, both chains have benefited from the growth of the casual dining sector.
The sector is now growing again, as consumers are looking for more affordable and convenient dining options.
The recovery of Pizza Express and Wagamama is a long needed positive sign for the casual dining sector.
It shows that the sector is starting to recover from the pandemic and that there is still demand for casual dining.
Private Equity News UK – Pizza Express & Wagamama
